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Article 25 Trumps Article 16 Of The Kingdom Law On Financial Supervision.

The conclusion I have come to after reading a letter dated October 19, 2020 sent by the Minister of Finance Ardwell Irion to State Raymond Knops is that article 25 of the Kingdom Law on Financial Supervision trumps articles 16 of the same Law. A text from the advices of the Department of Judicial Affairs and Legislation from the Ministry of General Affairs both from St Read more

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PHILIPSBURG:--- The plan presented by the Minister of TEATT Ludmilla de Weever to the parliament of St. Maarten last week is just the Ministers big idea says Minister of Finance Ardwell Irion. Irion made the statement at the Council of Minister's press conference on Wednesday when he was asked by SMN News if he could provide further details on the tax abolishment that was part of the plan Read more

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Mps Calls On Government To Reopen All Ports Now To Rebound Economy.

PHILIPSBURG:--- I told you so, says Member of Parliament Omar Ottley when he was pushing the government to begin rapid testing as visitors arrive on the island for the COVID-19 tests.
Ottley told the Ministers that attended the parliament meeting on Wednesday that they to reopen all business on St. Maarten so that money could circulate Read more

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Dutch Still Refuses Entertain Discussion On Cre, Knops Blackmail Continues.

PHILIPSBURG: --- Prime Minister Silveria Jacobs confirmed that the Dutch government still refuses to entertain any form of discussions on the law to establish the Caribbean Reform Entity (CRE). Jacobs said that the same goes for Curacao and Aruba. She said as soon as the Dutch government decides to reopen the discussion St. Maarten will be ready as they did send a number of changes to the law to ensure that this new entity does not trample on the autonomy of the countries Read more

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Knops Asked Irion To Withdraw Bond-Issue

THE HAGUE--Dutch State Secretary of Home Affairs and Kingdom Relations Raymond Knops last week asked St. Maarten Finance Minister Ardwell Irion to cease the procedure of floating a NAf. 75 million bond on the local capital market to raise funds to cover governments operational costs.

Knops made his request in a letter that he sent to Irion last week Read more

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Irion Wants Suspension Of Naf. 75 Million Bond

Finance Minister Ardwell Irion

PHILIPSBURG--Minister of Finance Ardwell Irion announced on Monday that he has requested that the Central Bank of Curaao and St. Maarten (CBCS) suspend the local auction of a bond of NAf Read more

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Minister Of Finance Suspends Bond, Blackmailed By State Secretary Knops. (Updated)

PHILIPSBURG:---The Minister of Finance Ardwell Irion has requested the CBCS to suspend (cancel) the auction (bond). Sint Maarten is currently in discussions with the Netherlands regarding the refinancing of a loan, which is scheduled to mature on October 21st, 2020. Sint Maarten has opted to accept the proposal of the Netherlands as outlined in their letter of October 16th, 2020, which will result in the postponement of the maturity date and avoid a technical default Read more

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Minister Of Finance Suspends Bond, Blackmailed By State Secretary Knops.

PHILIPSBURG:---The Minister of Finance Ardwell Irion has requested the CBCS to suspend (cancel) the auction (bond). Sint Maarten is currently in discussions with the Netherlands regarding the refinancing of a loan, which is scheduled to mature on October 21st, 2020. Sint Maarten has opted to accept the proposal of the Netherlands as outlined in their letter of October 16th, 2020, which will result in the postponement of the maturity date and avoid a technical default Read more

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Irion Says Floating Bond Not A Violation, Cft Asked To Clarify

Finance Minister Ardwell Irion.

PHILIPSBURG--One hundred per cent inaccurate, was the description used by Finance Minister Ardwell Irion on Wednesday, to describe statements made by the Committee for Financial Supervision CFT regarding the floating of a NAf Read more

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PHILIPSBURG:--- Minister of Finance Ardwell Irion said on Wednesday that the CFT made wrongful statements in their letter of October 12th regarding St. Maartens intention to float a bond for NAF 75M. Irion said that while the articles in the CFT regulation are vague, he said article 16 pertains to capital expenditures which St. Maarten is adhering to Read more

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~Kingdom Council of Ministers have to allow St. Maarten to float bonds~

PHILIPSBURG:--- The chairman of the CFT dispatched a letter to the Minister of Finance Ardwell Irion informing him that he is not allowed to float a bond with the Central Bank.
The letter sent on October 12th states that on October 9th was informed of the Ministers decision to float a bond for NAF 75M from the country to attract the domestic market.
Article 16 of Curaao and Sint Maarten Financial Supervision Act (Rft) sets out the procedure and criteria for taking out loans Read more

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Several Govt. Departments To Be Relocated To Btp Building

The BTP building on Cannegieter Street.

PHILIPSBURG--In an effort to further save on cost, several government departments will be relocated to the vacant floors of the Bureau Telecommunications and Post (BTP) building on Cannegieter Street, saving government between US $30,000 and $40,000 monthly, Finance Minister Ardwell IrionRead more

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PHILIPSBURG:--- Minister of Finance Ardwell Irion announced on Wednesday that the government of St. Maarten submitted a request with the Central Bank to float a bond in order to get out of its financial crisis. The Minister further explained that the government of St. Maarten continues with its efforts to cut costs and increase its revenues Read more

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